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of the federal government. if passed texas would be the first state to have its own fort knox. joining us now to talk more about this is senior managing director at tangent capital. what's going on here? >> it's proposed legislation. it would set up a bullion depository. it also allows for silver and platinum. >> is that because they don't trust the federal government? >> sure, in part. you want to give people a way to store their gold properly. this is safe storage. what's interesting about it is there are sovereign depositories like fort knox. this is the first for private gold. and the law says if the federal government pro ports to confiscate we consider that null and void. this would be a way to prevent that. so you would be relying on texas sovereignty. >> this is interesting. you hear of the germans bringing gold and not wanting to leave it in the u.s. >> hugo chavez did that a couple of years ago. he had armored cars going through the streets of caracas. azerbaijan, small player, but they're taking their gold. it's being debated in the netherlands. so what we are seeing is a slow moti
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